Why we are engaging with Drumchapel
We are engaging with Drumchapel about its governance.
COVID-19 has significantly impacted the services provided by social landlords in 2020 and will continue to influence how services are provided in 2021. We will continue to monitor, assess and report upon how each landlord is responding and we will keep our regulatory engagement under review so that we can continue to respond to the challenges of COVID-19.
Drumchapel has completed an options appraisal and decided to appoint its own senior officer. We will engage with Drumchapel to get assurance it is progressing the recruitment in line with regulatory standards.
What Drumchapel must do
Drumchapel must keep us informed about its plans for recruitment.
What we will do
We will:
- liaise with Drumchapel as it progresses its recruitment; and
- update our published engagement plan in light of any material change to our planned engagement with Drumchapel.
Regulatory returns
Drumchapel must provide us with the following annual regulatory returns and alert us to notifiable events as appropriate:
- Annual Assurance Statement;
- audited financial statements and external auditor’s management letter;
- loan portfolio return;
- five year financial projections; and
- Annual Return on the Charter.
It should also notify us of any material changes to its Annual Assurance Statement, and any tenant and resident safety matter which has been reported to or is being investigated by the Health and Safety Executive or reports from regulatory or statutory authorities or insurance providers, relating to safety concerns.